Is retiring at 65 crazy? One billionaire thinks so. In this episode, Phil and Marc unpack a recent Yahoo Finance article where BlackRock CEO Larry Fink challenges the conventional notion of retiring at 65 and encourages investors to consider delaying retirement.   Here’s some of what we discuss in this episode: 0:00 – Intro 1:46 – The current state of Social Security 5:02 – The shift to self-funded retirement plans 7:44 – Early retirement planning and saving 10:37 – Increased life expectancy in retirement planning 12:53 – Getting a personalized plan for you   Yahoo Finance Article: h ..read more

It’s that time of year! With tax season right around the corner, it’s the perfect time to dive into some tax tips on the podcast. Tune into this two-part series where we dive into a fidelity article titled “8 Tax Pitfalls to Avoid,” and get Phil’s thoughts as a CPA.   Here’s some of what we discuss in this episode: 0:00 – Intro 1:15 – Waiting too long to strategize 4:08 – Engaging in wash sales 8:15 – Not taking advantage of tax breaks 9:45 – Forgetting deadlines   Fidelity Article: https://www.fidelity.com/learning-center/personal-finance/tax-pitfalls?ccsource=email_monthly&mbox ..read more

It’s that time of year! With tax season right around the corner, it’s the perfect time to dive into some tax tips on the podcast. Tune into this two-part series where we dive into a fidelity article titled “8 Tax Pitfalls to Avoid,” and get Phil’s thoughts as a CPA.   Here’s some of what we discuss in this episode: 0:00 – Intro 1:43 – Missing investment income 3:30 – Selling too soon 5:33 – Poor record-keeping 7:56 – Forgetting losses   Fidelity Article: https://www.fidelity.com/learning-center/personal-finance/tax-pitfalls?ccsource=email_monthly&mbox3rdPartyId=&mboxConvType ..read more

Many retirees find themselves at a crossroads when deciding what to do with their existing property as they move into their dream home. Would it be best to sell, or should you consider becoming a landlord? Drawing from personal experiences and real client scenarios, Phil and Marc will explore the pros and cons of turning a home into a rental property in this episode.   Here’s some of what we discuss in this episode: 1:50 – Pros and cons of renting out a property in retirement 4:39 – Managing rental properties and dealing with tenants 9:41 – Understanding the potential downsides of rental ..read more

Navigating financial decisions, especially as retirement approaches, can be a challenging terrain for many investors. Whether it's the anxiety around making the right choices or grappling with an overload of information, it can be tempting to push off important retirement planning conversations. It's a familiar scenario – putting things off to "next week," only to find that "next week" turns into a long period of indecision.   Here’s some of what we discuss in this episode: 1:31 – Struggling with paralysis analysis 2:58 – Procrastinating 4:40 – Information overload 7:32 – Is there a bette ..read more

Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning.   Here’s some of what we discuss in part 2: 1:25 – Lower healthcare costs 5:31 – Fewer sandwich generation challenges 7:36 – Shorter life expectancies 9:41 – More contributors to Social Security 17:48 – Easier to achieve financial literacy   For more, visit us online: http://philstaxhacks.com Watch the video ..read more

In today’s show, we’re going to answer some email questions from listeners just like you. These questions cover a range of topics from investing to retirement planning, and Phil is here to provide some expert insights. Remember, while we offer general advice on the show, it's always best to consult with a financial professional to tailor solutions to your unique situation. Stay tuned as we explore common financial dilemmas and uncover some general strategies to navigate them effectively!   Here’s some of what we discuss in this episode: 2:48 – Adjusting to retirement 6:59 – Social Securit ..read more

Everyone wants to know. Will the economy boom or bust in 2024? Join us as we explore a range of expert predictions, from the shifting trends in housing prices to the looming question of a potential recession or stock market crash.   Here’s some of what we discuss in this episode: 2:18 – Housing market in 2024 6:56 – Recession in 2024 12:50 – Stock market in 2024   Housing Prices Articles: https://www.newsweek.com/will-housing-market-crash-2024-realtors-share-predictions-1851540 https://www.financialsamurai.com/2024-housing-market-price-predictions-by-industry-experts/#:~:text=The%20r ..read more

This episode might be a bit counterintuitive. We’re going to question the real impact of common financial habits. Are the strategies you consider beneficial working in your favor?  We explore the pros and cons of practices like paying off debt early and keeping up with the financial news. Are your good money habits holding you back?   Here’s some of what we discuss in this episode: 2:04 – Paying off debt early 8:41 – Keeping up with financial news 11:26 – Global diversification 12:58 – Building an emergency fund 17:17 – Patience in making financial decisions   For more, visit us ..read more

This two-part conversation might be a bit counterintuitive. We’re going to question the real impact of common financial habits. Are the strategies you consider beneficial actually working in your favor?   Here’s some of what we discuss in this episode: 1:49 – Ignoring account statements 5:14 – Keeping a strict budget 11:17 – Investing in familiar stocks 14:42 – Embracing automation 18:05 – Patience getting into the stock market   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts ..read more